County agency to approve North Shore tax deal

The Ontario County Industrial Development Agency (IDA) is slated to approve the tax deal for the developers of the North Shore Project.

After a positive cost-benefit analysis, the IDA is slated to approve a 25-year, $11 million PILOT (payment in lieu of taxes) Increment Financing agreement with Morgan-LeChase development. The Rochester-based company plans to purchase land on Lakeshore Drive and develop a $116 million mixed-use project across 21 acres.

The PIF requires the approval of all affected taxing jurisdictions — the school, city and county — and the the County Board of Supervisors is the final piece needed for the deal to be granted, allowing the developer to move forward. The IDA’s decision is dependent on their vote —scheduled to take place at a Thursday, March 27, meeting.

The IDA will meet Monday, March 24, at 5 p.m. at the Planning Conference Room on the third floor of the Municipal Building, 20 Ontario St.